State of the Market - Suffolk County (Boston) MA

[Charlie MacPherson]

The Q4 2017 numbers are out and they confirm what a lot of us already knew.  The Boston market is still a WILD seller's market and there is still a severe shortage of inventory.

If you have a property that you're considering selling, this looks like a GREAT time to do it.

Here are the highlights:

• Average sales price across all properties is up 23.7% over 1 year ago.
• The number of homes for sale is down an astonishing 42.2%.
• The number of "months supply" is a breathtaking 0.9 months. 
  (0-6 months is a seller's market.  6-7 months is at equilibrium, 7 months+ is a buyer's market)
• Average Days on Market is 41 days, down 6.6%. That's pretty impressive, considering that most lenders need 30-45 days from P&S to close - and DOM is calculated from listing date to close date!

[Jordan Haran]

As someone trying to buy in Boston I can confirm this is 100% true. Hoping for more supply in the next few years at least.

Any recommended suburbs for 4 unit homes with a better market?

Thanks